DIFFERENCE
ActiveSummary
DIFFERENCE has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €341,711 and a net result of €62,451. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 91% of 8161 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 9.22 against 8.12 in 2024; short-term debt: 10.8% and cash: 55.8% of total assets), and 10.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
89.1%
Return on assets
16.3%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €341,711
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
16 d early
2023
29 d late
2022
18 d early
2021
25 d late
2020
30 d late
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 7 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 25 August (4 of the last 5 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€341,711▲ 9.1%
2024 · €313,260
Total assets
€383,345▲ 7.2%
2024 · €357,598
Net result
€62,451▲ 11.8%
2024 · €55,868
Working capital
€341,778▲ 9.0%
2024 · €313,575
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€82,034▲ 73.1%€99,015▲ 20.7%€106,738▲ 7.8%€81,960▼ 23.2%€91,643▲ 11.8%
Net result€58,057above the sector's middle half▲ 70.3%€69,367above the sector's middle half▲ 19.5%€73,821above the sector's middle half▲ 6.4%€55,868above the sector's middle half▼ 24.3%€62,451within the sector's middle half▲ 11.8%
Equity€321,204above the sector's middle half▼ 5.0%€340,571above the sector's middle half▲ 6.0%€299,392above the sector's middle half▼ 12.1%€313,260above the sector's middle half▲ 4.6%€341,711within the sector's middle half▲ 9.1%
Total assets€403,924above the sector's middle half▲ 17.3%€401,856within the sector's middle half▼ 0.5%€454,053above the sector's middle half▲ 13.0%€357,598within the sector's middle half▼ 21.2%€383,345below the sector's middle half▲ 7.2%
Debt€82,720▲ 1,212%€61,285▼ 25.9%€154,661▲ 152%€44,339▼ 71.3%€41,634▼ 6.1%
Working capital€321,511above the sector's middle half▼ 5.0%€340,935above the sector's middle half▲ 6.0%€299,706above the sector's middle half▼ 12.1%€313,575above the sector's middle half▲ 4.6%€341,778within the sector's middle half▲ 9.0%
Solvency79.5%above the sector's middle half▼ 18.6pp84.7%above the sector's middle half▲ 5.2pp65.9%within the sector's middle half▼ 18.8pp87.6%above the sector's middle half▲ 21.7pp89.1%above the sector's middle half▲ 1.5pp
Current ratio4.90above the sector's middle half▼ 52.036.60above the sector's middle half▲ 1.702.94within the sector's middle half▼ 3.658.12above the sector's middle half▲ 5.189.22above the sector's middle half▲ 1.10
Return on assets (ROA)14.4%above the sector's middle half▲ 4.5pp17.3%above the sector's middle half▲ 2.9pp16.3%above the sector's middle half▼ 1.0pp15.6%above the sector's middle half▼ 0.6pp16.3%above the sector's middle half▲ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €383,345
Equity
€341,711 ▲ 9.1%
Debt
€41,634 ▼ 6.1%
Debt's share of the balance-sheet total falls from 12.4% to 10.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.12▼
2024 · 0.14
ROE
18.3%▲
2024 · 17.8%
Debt ≤ 1 year
€41,567▼
2024 · €44,023
Income taxes
€29,144▲
2024 · €26,063
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €403 | €448 | €484 | €487 | €500 | ▲ 2.5% |
| Gross operating margin9900 | €82,436 | €99,463 | €107,222 | €82,448 | €92,143 | ▲ 11.8% |
| Operating profit (loss)9901 | €82,034 | €99,015 | €106,738 | €81,960 | €91,643 | ▲ 11.8% |
| Financial income75/76B | €2,946 | €2,647 | €1,570 | €10 | - | - |
| Recurring financial income75 | €2,946 | €2,647 | €1,570 | €10 | - | - |
| Financial charges65/66B | €44 | €39 | €39 | €40 | €49 | ▲ 22.4% |
| Recurring financial charges65 | €44 | €39 | €39 | €40 | €49 | ▲ 22.4% |
| Profit (loss) for the period before taxes9903 | €84,936 | €101,623 | €108,268 | €81,930 | €91,595 | ▲ 11.8% |
| Income taxes67/77 | €26,879 | €32,256 | €34,447 | €26,063 | €29,144 | ▲ 11.8% |
| Profit (loss) for the period9904 | €58,057 | €69,367 | €73,821 | €55,868 | €62,451 | ▲ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €58,057 | €69,367 | €73,821 | €55,868 | €62,451 | ▲ 11.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €403,924 | €401,856 | €454,053 | €357,598 | €383,345 | ▲ 7.2% |
| Current assets29/58 | €403,924 | €401,856 | €454,053 | €357,598 | €383,345 | ▲ 7.2% |
| Amounts receivable after more than one year29 | €195,278 | €120,598 | €3,405 | - | - | - |
| Other amounts receivable291 | €195,278 | €120,598 | €3,405 | - | - | - |
| Amounts receivable within one year40/41 | €8,797 | €8,470 | €8,496 | €159,407 | €169,380 | ▲ 6.3% |
| Trade receivables40 | €8,470 | €8,470 | €8,470 | €8,470 | €19,360 | ▲ 129% |
| Other amounts receivable41 | €327 | - | €26 | €150,937 | €150,020 | ▼ 0.6% |
| Cash at bank and in hand54/58 | €192,918 | €263,259 | €442,152 | €198,191 | €213,965 | ▲ 8.0% |
| Deferred charges and accrued income490/1 | €6,932 | €9,528 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €403,924 | €401,856 | €454,053 | €357,598 | €383,345 | ▲ 7.2% |
| Equity10/15 | €321,204 | €340,571 | €299,392 | €313,260 | €341,711 | ▲ 9.1% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Outside capital11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Share premium1100/10 | €18,592 | €18,592 | €18,592 | €18,592 | - | - |
| Other1109/19 | - | - | - | - | €18,592 | - |
| Reserves13 | €301,859 | €320,859 | €279,800 | €293,600 | €322,050 | ▲ 9.7% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | - | - | - | - |
| Other1319 | €1,859 | - | - | - | - | - |
| Distributable reserves133 | €300,000 | €319,000 | €279,800 | €293,600 | €322,050 | ▲ 9.7% |
| Profit (loss) carried forward14 | €753 | €1,120 | €1,000 | €1,068 | €1,069 | ▲ 0.1% |
| Amounts payable17/49 | €82,720 | €61,285 | €154,661 | €44,339 | €41,634 | ▼ 6.1% |
| Amounts payable within one year42/48 | €82,413 | €60,921 | €154,347 | €44,023 | €41,567 | ▼ 5.6% |
| Trade debts44 | - | - | - | €125 | €538 | ▲ 332% |
| Suppliers440/4 | - | - | - | €125 | €538 | ▲ 332% |
| Taxes, remuneration and social security45 | €7,037 | €10,545 | €8,423 | €1,832 | €7,029 | ▲ 284% |
| Taxes450/3 | €7,037 | €10,545 | €8,423 | €1,832 | €7,029 | ▲ 284% |
| Other amounts payable47/48 | €75,376 | €50,376 | €145,924 | €42,066 | €34,000 | ▼ 19.2% |
| Accrued charges and deferred income492/3 | €307 | €364 | €314 | €316 | €67 | ▼ 78.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €58,057 | €69,367 | €73,821 | €55,868 | €62,451 | ▲ 11.8% |
| Operating cash flow (approximation) | €58,057 | €69,367 | €73,821 | €55,868 | €62,451 | ▲ 11.8% |
| Change in cash | - | €70,341 | €178,893 | -€243,961 | €15,774 | ▲ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 8.12
Current ratio from 2.94 to 8.12; short-term debt falls from €154,347 to €44,023.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €34,100 ▼18.9%
Net result drops to €34,100, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 29.86
Current ratio from 8.44 to 29.86; short-term debt falls from €35,302 to €10,547.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
26-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nivelles · 1 establishment unit since 1986
Ground area
1,795 m²
Building footprint
459 m²
Volume, LiDAR
5,968 m³
Parcel 25072B0295/00B002, Wallonia · tallest building 17.0 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue de Sotriamont 22, 1400 Nivelles
since 19862.028.789.246
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25072B0295/00B002 | Wallonia | 1,795 m² | 1 · 459 m² | 17.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 679 companies in sector 46494 we hold annual accounts for 532. 408 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-02-1986
Fiscal year end31-12
Activities, NACEBEL 2025
46494Wholesale of non-electrical household articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428455334
Also
9925:BE0428455334
Registered
01-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.